Gaming Industry Profits

The phenomenal growth rate and enormous profit enjoyed by the gaming operators in Las Vegas in the third quarter cannot be seen in any other industry.

The 70% increase is credited to factors like, the opening of Wynn Las Vegas; escalating entertainment offerings, upsurge in occupancy rates, increasing convention business and increase in room prices. With more and more new products coming up in the market the chances of las Vegas market slowing down is very-very less.

Last year the $3.4 billion revenue for the MGM Mirage, Las Vegas Sands, Station Casinos, Boyd Gaming Corp., Harrah’s entertainment has increased to $5.8 billion this year. This increase is 70% compared to the 45% last year. The net income of these companies increased from $315.3 million to $520.2 million this year. Cash flow before the interest, tax and depreciation also increased from $1 billion to $1.7 billion. Penn National gaming also showed an increase in its revenue to $390.2 million from $287.6 million.